[코인시황] Bitcoin price recovers again… Possibility of braking upside momentum

■ As of 11 am today, Bitcoin (BTC) was traded for about $54771 each. This is an increase of about 4.9% in 24 hours.

■ Over the course of 24 hours, the price of Bitcoin has been in the $51,267 to 54032 range.

■ Looking at the price chart, the bitcoin price exceeded the 10-hour and 50-hour moving averages. According to technical analysis, this is a bearish signal.

Bitcoin price has risen despite the expiration of the options market. Yesterday, the bitcoin options market was expected to face a decline in bitcoin prices as the contract worth $6 billion, the largest ever, expired. It also raised the possibility of a sharp drop to 44,000 dollars, which is the point of the greatest pain.

The market was relatively stable as the buying trend was not large. Bitcoin price rose 4.8% yesterday alone to reach $53,800, making up for losses in recent days.

Sean Rooney, senior researcher at Valkyrie Funds, said, “As of the end of March, bitcoin must once again bring a breeze for hedge funds’ 1Q earnings readjustment or risk management. All of the S&P 500 indexes hit their monthly highs since December last year.”

However, this bullish momentum could be braked. Looking at the relative strength index (RSI), which is used as an indicator to determine overbought and oversold of a particular cryptocurrency, a signal that bitcoin is close to overbought is caught.

“The RSI indicator on the monthly chart is very high,” said Joel Kruger, cryptocurrency strategist at LMAX Digital.

Ether price rises, Uniswap updates heat controversy

Ether (ETH) traded at around $1698 this morning at 11:00. Compared to 24 hours ago, the price is up by about 4.58%. This is the result of the rising bitcoin price.

Market attention was focused on Uniswap V3, whose launch schedule was revealed earlier this week.

Uniswap, a representative of the Ethereum-based decentralized exchange (DEX), announced that another upgraded version will be released on May 5. According to industry insiders, the key change in Uniswap V3 is to enable liquidity providers (LPs) to occupy a concentrated liquidity position.

When this feature is introduced, liquidity providers have more control over the price range of the capital they supply. However, criticism is also raised that this poses a greater risk of incurring losses for inexperienced private liquidity providers.

“The mixed messages and complex functions provided by Uniswap V3 can lower the price of Ether,” said Denis Vinokurov, senior researcher at Trade The Chain. “DeFi is an Ethereum blockchain. It is a key part that is directly connected to” he emphasized.

“Uniceswap holds a lot more tokens than swap and is a key vehicle for liquidity bootstrapping. However, if the version is changed and the market itself loses its place, Ether, which was tied up for liquidity supply, must somehow be absorbed. In this case, the plunge in prices is obvious.”

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